Barbie has been a popular figure in the toy market for the last 55 years but sales have dwindled for the world famous doll in recent times.

Now the doll's maker, Mattel, will be hoping the new superhero Barbie they showed off at the Nuremberg toy fair on Tuesday (January 27) can take the world by storm.

Analysts said that Mattel's third quarter sales show that there was a 21% drop in the sale of Barbie doll.

The launch coincides with a new animated film about the iconic doll as a modern-day princess with a superhero life.

In the film 'Princess Power' Barbie stars as Kara, who discovers she has super powers that transform her into Super Sparkle - her secret, crime-fighting alter ego who flies around the kingdom ready to save the day.

The vice president of global marketing for Barbie at Mattel, Lori Pantel, said that she sees the new superhero Barbie as a true reflection of the modern age.

"I think in a lot of cases. we look back to go forward," she said. " And in Barbie's history when we've done our best is when we've truly reflected what is going on in culture."

Pantel believes that the new Barbie will excite the girls and be a strong addition to the brand.

"So as long as we are really keeping an eye on what girls are watching, what girls are into, and delivering great product, great entertainment, that truly inspire girls' imaginations, I think we'll be able to continue the legacy of a successful brand," she said.